‘Thai people already poor’: developing nations protest IMF’s austerity call
Por Agence France-Presse — South China Morning Post – News feed
Advertisement Thailand Asia Southeast Asia ‘Thai people already poor’: developing nations protest IMF’s austerity call
The IMF should focus on climate financing and tax reforms rather than demand governments cut subsidies and social spending, critics say
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Agence France-Presse Published: 11:03am, 17 Oct 2026 Coconut farmer Sombat Chuekrod travelled more than 200km (120 miles) to join hundreds on the streets of Bangkok on Friday demanding that the International Monetary Fund (IMF) and World Bank change how they deal with the developing world. Finance ministers, central bank governors and other top policymakers gathered this week in the Thai capital for the IMF-World Bank Annual Meetings, as decision makers tackle an inflation crisis fuelled by the Iran war and other economic shocks.
The message from the IMF has been clear: after years of economic crises starting with the pandemic and continuing through the wars in Ukraine and the Middle East, worldwide debt is too high and governments need to cut spending.
For the hundreds at the protest in Bangkok, as well as for rights groups and analysts, that message is the wrong one.
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